probability: Ten thousand raffle tickets are sold, and there

[Mary Jane]

Ten thousand raffle tickets are sold, and there is one first prize worth $20,000, one second prize worth $2500 and 20 third prizes worth $500 each. Find the expected value of a ticket.

If the probability of first prize is 1/10000, and second is 1/9999, would 3-20 for the third prize continually have to go down? 20/9998, 20/9997, 20/9996, 20/9995 etc............?

 

[stapel]

Okay, so you've copied down the first part of the explanation the tutor gave you in your other thread on this question. Now please read and follow the rest of the instructions you were given.

Note: You have yet to provide the requested information. What is the price of a ticket?

Eliz.

P.S. Please do not start another thread on this topic. Thank you.